According to a statement released by the NPA, the companies involved in the illegal conduct are Moari Oil Company Ltd, Rodo Oil Company Ltd, MBA Global Ltd, Cigo Energy Ltd and Torrid Global Ltd. The rest are Naddif Co Ltd, and GAT Oil.
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7 Petroleum Service Providers sanctioned by NPA for unlawful lifting of products
Seven Petroleum Service Providers (PSPs) involved in illegal third-party trading and lifting of petroleum products have been fined by the regulator, National Petroleum Authority (NPA).
Chief Executive of NPA, Dr. Mustapha Abdul-Hamid
“Moari Oil Company Ltd pay a fine of GHS50, 000, comprising of GHS10,000 for engaging in Third-Party Supplies and GHS40,000 for the unlawful lifting of petroleum products,” the NPA has directed.
Rodo Oil was slapped with a fine GHS350, 000 comprising GHS10,000 for engaging in Third-Party Supplies and GHS340,000 for the unlawful lifting of petroleum products, as well as a one month suspension of operations.
MBA Global Ltd was also fined GHS85,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS 75,000.00 for the unlawful lifting of petroleum products and one month suspension of operations, while Cigo Energy will pay a fine of GHS245,000.00 comprising of GHS10,000.00 for engaging in Third Party Supplies and GHS235,000 for the unlawful lifting of petroleum products.
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Torrid Global Ltd was sanctioned to pay GHS550,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies and GHS540,000.00 for the unlawful lifting of petroleum products, while Naddif Co. Ltd is expected to pay GHS150,000.00 comprising GHS 10,000.00 for engaging in Third Party Supplies, GHS 140,000.00 for the unlawful lifting of petroleum products and one month suspension of operations.
“That GAT Oil pay a fine of GHS 120,000.00 comprising of GHS 10,000.00 for engaging in Third Party Supplies, GHS 110,000.00 for the unlawful lifting of petroleum products and one month suspension of operations,” the statement stated.
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